After a trust has been created, which one of the following is true?

Question

Answer

The trustee has the legal interest and the settlor has the equitable interest.

Answer

The settlor has the legal interest and the beneficiary has the equitable interest.

Answer

The trustee has the legal interest and the beneficiary has the equitable interest.

Answer

The beneficiary has the legal interest and the settlor has the equitable interest.

Answer

The settlor retains both the legal and equitable interests unless the trustee breaches a duty.

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